Lithium Miners News For The Month Of December 2020
Dec. 24, 2020 6:02 AM ETALB, ALTAF, AMVMF...5 Comments22 Likes
Matt Bohlsen
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Summary
Welcome to the December 2020 edition of the lithium miner news. December saw lithium prices rise after falling for the past 2 years as it looks like demand has rebounded strongly boosted by record EV sales in Europe and China. The lithium miners had an incredibly successful month with several huge capital raises and very large deals. No doubt the Biden victory helped serve as a catalyst as the lithium miners and LIT ETF had their best month in 3 years.
- Lithium prices were higher for the past month, boosted by record EV demand in Europe and China.
- Lithium market news - Li-ion battery prices continue to fall in 2020, EV/ICE parity nears (Bloomberg hints at 2023 parity).
- Lithium company news - SQM signs long-term lithium contract with LG Energy Solutions. Ganfeng Lithium Mahong Factory adds 50,000 tons of battery-grade lithium hydroxide annual production capacity.
- IGO Limited buys 49% stake in Tianqi Lithium Energy Australia (TLEA), equating to 24.99% in Greenbushes plus 49% in Tianqi's suspended Kwinana lithium processing plant, for US$1.4b.
- Altura creditors approve Pilbara Minerals offer. Galaxy Resources raises A$161 million. Lithium Americas announces closing of US$100M ATM offering.
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Lithium spot and contract price news
During December, 99.5% lithium carbonate China spot prices were up 6.4%. Lithium hydroxide prices were up 0.74%. Spodumene (6% min) prices were up 0.21%.
Fastmarkets (formerly Metal Bulletin) reports 99.5% lithium carbonate battery grade spot midpoint prices cif China, Japan & Korea of US$6.75/kg (US$6,750/t), and min 56.5% lithium hydroxide battery grade spot midpoint prices cif China, Japan & Korea of US$9.00/kg (US$9,000/t).
Benchmark Mineral Intelligence has November global weighted average prices at US$5,700/t for Li carbonate, US$8,837/t for Li hydroxide, and US$380/t for spodumene (6%
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